SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month of July 2018
Commission File Number: 001-06439

SONY CORPORATION
(Translation of registrant's name into English)

1-7-1 KONAN, MINATO-KU, TOKYO, 108-0075, JAPAN
(Address of principal executive offices)

The registrant files annual reports under cover of Form 20-F.

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F,
 
Form 20-F  X
Form 40-F __
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934, Yes No X
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82-______
 
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
SONY CORPORATION
 
(Registrant)
   
   
 
By:  /s/  Hiroki Totoki
 
                (Signature)
 
Hiroki Totoki
 
Senior Executive Vice President and
 
Chief Financial Officer
 
Date: July 2, 2018

List of materials

Documents attached hereto:
 
i) Press release: Issuance of New Shares as Restricted Stock Compensation
 

 
July 2, 2018
Sony Corporation
 
 
Issuance of New Shares as Restricted Stock Compensation
 
 
Sony Corporation (the “Corporation”) today announces that, pursuant to the delegation of authority approved by resolutions of the Board of Directors of the Corporation, the Representative Corporate Executive Officer of the Corporation decided to issue new shares (the “Issuance of New Shares”) as restricted stock compensation, as follows:
 
 
1.  Outline of the Issuance
 
(1)    Payment date
July  27, 2018
(2)    Class and number of shares to be issued
132,900 shares of common stock of the Corporation
(3)    Issue price
5,664 yen per share (Note 1)
(4)    Total issue price of shares to be issued
752,745,600 yen (Note 2)
(5)    Allottees
5 Corporate Executive Officers of the Corporation:
63,000 shares in total
11 Non-Executive Directors of the Corporation:
9,900 shares in total
6 Executives of the Corporation:
60,000 shares in total
(6)    Other
Issuance of New Shares to be allotted is conditioned on the securities registration statement taking effect in accordance with the Financial Instruments and Exchange Act.
 
(Note 1)
The issue price is the amount of monetary compensation receivables granted by the Corporation to the grantee and then immediately contributed back to the Corporation by the grantee in exchange for the Issuance of New Shares as required under the Companies Act. The estimated issue price is calculated based on the closing price of the shares of common stock of the Corporation in the regular trading thereof on the Tokyo Stock Exchange, Inc. (the “Closing Price”) on June 29, 2018 (5,664 yen).  The actual issue price shall be the higher of (i) the average of the Closing Prices for the thirty (30) consecutive trading days commencing on the forty-fifth (45th) trading day immediately before the day immediately after the payment date of the shares (from May 25, 2018 to July 5, 2018) (excluding days on which there is no Closing Price, and any fraction of less than one (1) yen arising as a result of such calculation shall be rounded up to the nearest one (1) yen) and (ii) 5,664 yen, which is the Closing Price on June 29, 2018 (the business day immediately before the date on which the Representative Corporate Executive Officer of the Corporation made the decision on the Issuance of New Shares), and will be determined on July 5, 2018.
 
(Note 2)
The total issue price of shares to be issued is the total amount of monetary compensation receivables granted by the Corporation to the grantees and then immediately contributed back to the Corporation by the grantees in exchange for the Issuance of New Shares as required under the Companies Act. The estimated total issue price of shares to be issued is calculated based on the Closing Price on June 29, 2018 (5,664 yen).  The actual total issue price of shares to be issued will be determined on July 5, 2018, in accordance with the method described in (Note 1) above.
 


 
2.  Purpose of and Reasons for the Issuance
 
At the meeting of the Compensation Committee held on April 27, 2017, the Corporation passed a resolution to adopt a policy to introduce a stock compensation plan under which shares of common stock subject to transfer restrictions (the “Shares of Restricted Stock”) would be allotted to the Corporation’s Corporate Executive Officers and other executives as compensation for the purposes of (i) further promoting shared values between the shareholders and the executives and (ii) giving an incentive to such executives to continuously enhance the mid- to long-term business performance of the Corporation and its corporate value.  Furthermore, at the meeting of the Compensation Committee held on February 1, 2018, based on the policy, it was decided that the Corporation would grant Shares of Restricted Stock to the non-executive directors of the Corporation (the “Non-Executive Directors”) under such stock compensation plan for the purpose of developing and maintaining a sound and transparent management system through further promoting shared values between the shareholders and the Non-Executive Directors (together with the plan to grant to the Corporate Executive Officers and other executives of the Corporation, the “Compensation Plan”).
 
At the meeting of the Compensation Committee held on June 29, 2018, based on the objectives of the Compensation Plan, it was decided that the Corporation would grant Shares of Restricted Stock to all of the Corporate Executive Officers, all of the Non-Executive Directors and certain Executives of the Corporation  (the Corporate Executive Officers, the Non-Executive Directors and the Executives of the Corporation who will be granted Shares of Restricted Stock shall be hereinafter individually referred to as the “Qualified Person” and collectively referred to as the “Qualified Persons”).
 
Pursuant to the decision of the Representative Corporate Executive Officer of the Corporation dated July 2, 2018, which takes into account the above-mentioned resolution of the Compensation Committee, and based on the delegation of authority approved by resolutions of the Board of Directors of the Corporation pursuant to Article 416, paragraph 4 of the Companies Act, the shares of common stock of the Corporation that relate to the Issuance of New Shares will be issued to the Qualified Persons in accordance with the Compensation Plan.  Each Qualified Person who is a Corporate Executive Officer, a Non-Executive Director and an Executive will make an in-kind contribution to the Corporation of the monetary compensation receivables paid by the Corporation to each Qualified Person in order to grant to such Qualified Person Shares of Restricted Stock.  The Corporation considers that the compensation of the Qualified Persons, which includes Shares of Restricted Stock that are granted to the Qualified Persons, is at an appropriate level in accordance with the roles, functions and responsibilities of the Qualified Persons, based upon third-party research regarding compensation paid to management of both domestic and foreign companies.
 
The Corporation plans to execute, with each Qualified Person, an allotment agreement for Shares of Restricted Stock (the “Allotment Agreement”) which contains substantially the following terms:
 
 
3.  Outline of the Allotment Agreement
 
(1)      Transfer Restriction Period
 
With respect to Qualified Persons who are the Corporate Executive Officers or the Executives, until June 19, 2021, and, with respect to Qualified Persons who are the Non-Executive Directors, until  June 19, 2027 (individually or collectively, the “Transfer Restriction Period”), the Qualified Person shall not transfer, create any security interest on or otherwise dispose of the shares of common stock of the Corporation allotted pursuant to the Allotment Agreement (the “Allotted Shares”) (the “Transfer Restriction”).
 

 
(2)      Conditions for Releasing the Transfer Restriction
 
The Corporation shall remove, as of the expiration of the relevant Transfer Restriction Period, the Transfer Restriction on all of the Allotted Shares, on the condition that the Qualified Person who is a Corporate Executive Officer or an Executive has held, throughout the Transfer Restriction Period, one or more of his or her positions, as applicable, as a Director, a Corporate Executive Officer or another executive, or an employee of the Corporation or a Related Company of the Corporation (a “Related Company” means a “subsidiary (kogaisha)” as defined in Article 8, Paragraph 3 of the Ordinance on the Terminology, Forms and Preparation Methods of Financial Statements, etc. or an “affiliated company (kanren kaisha)” as defined in Paragraph 5 of such Article; the same shall apply hereinafter), or that the Qualified Person who is a Non-Executive Director has held, throughout the Transfer Restriction Period, his or her position as a Director of the Corporation.  However, if, during the Transfer Restriction Period, a Qualified Person who is a Corporate Executive Officer ceases to hold all the positions that he or she has held as a Director, a Corporate Executive Officer or another executive at, and if applicable, ceases to be an employee of, the Corporation or a Related Company due to (i) his or her death or (ii) any other justifiable reason that is approved by the Compensation Committee, the Corporation shall, as necessary, make reasonable adjustments to the number of the Allotted Shares for which the Transfer Restriction is to be removed and the timing of the removal of the Transfer Restriction, and any Allotted Shares that are outside the scope of the removal of the Transfer Restriction will be acquired by the Corporation without any consideration to, or consent of, the Qualified Person.  If, during the Transfer Restriction Period, a Qualified Person who is a Non-Executive Director ceases to hold the position that he or she has held as a Director of the Corporation due to (i) his or her death or (ii) any other justifiable reason that is approved by the Compensation Committee (the Compensation Committee will accept that there is a justifiable reason, unless there are special circumstances), the Corporation shall remove the transfer restriction on all of the Allotted Shares and make reasonable adjustments to the timing of the removal of the Transfer Restriction as necessary.  Furthermore, if, during the Transfer Restriction Period, a Qualified Person who is an Executive ceases to hold all the positions that he or she has held as a Director, a Corporate Executive Officer or another executive at, and if applicable, ceases to be an employee of, the Corporation or a Related Company of the Corporation due to (i) his or her death or (ii) any other justifiable reason that is approved by the Corporation, the Corporation shall, as necessary, make reasonable adjustments to the number of the Allotted Shares for which the Transfer Restriction is to be removed and the timing of the removal of the Transfer Restriction, and any Allotted Shares that are outside the scope of the removal of the Transfer Restriction will be acquired by the Corporation without any consideration to, or consent of, the Qualified Person.
 
(3)      Grounds for the Acquisition without Consideration
 
As to a Qualified Person who is a Corporate Executive Officer, if certain events occur, including, but not limited to, cases where, during the Transfer Restriction Period, he or she ceases to hold all the positions that he or she holds as a Director, a Corporate Executive Officer or another executive at, and if applicable, ceases to be an employee of, the Corporation or a Related Company, the Corporation will acquire the Allotted Shares without any consideration to, or consent of, the Qualified Person, except where the Qualified Person ceases to hold all such positions that he or she holds at, and, if applicable, ceases to be an employee of, the Corporation or a Related Company due to (i) his or her death or (ii) any other justifiable reason that is approved by the Compensation Committee. As to a Qualified Person who is a Non-Executive Director, if certain events occur, including, but not limited to, cases where, during the Transfer Restriction Period, he or she ceases to hold the position that he or she has held as a Director of the Corporation, the Corporation will acquire the Allotted Shares without any consideration to, or consent of, the Qualified Person, except where the Qualified Person ceases to hold such position that he or she has held at the Corporation due to (i) his or her death or (ii) any other justifiable reason that is approved by the Compensation Committee (the Compensation Committee will accept that there is a justifiable reason, unless there are special circumstances).  Furthermore, as to a Qualified Person who is an Executive, if certain events occur, including, but not limited to, cases where, during the Transfer Restriction Period, he or she ceases to hold all the positions that he or she has held as a Director, a Corporate Executive Officer or another executive at, and if applicable, ceases to be an employee of, the Corporation or a Related Company of the Corporation, the Corporation will acquire the Allotted Shares without any consideration to, or consent of, the Qualified Person, except where the Qualified Person ceases to hold all such positions that he or she has held at, and, if applicable, ceases to be an employee of, the Corporation or a Related Company of the Corporation due to (i) his or her death or (ii) any other justifiable reason that is approved by the Corporation.
 

 
(4)      Management of Shares
 
In order to prevent the Allotted Shares from being transferred, having any security interest created thereon or otherwise being disposed of during the Transfer Restriction Period, the Corporation will take such measures as the Corporation considers appropriate, including the management in dedicated accounts established at domestic and/or foreign securities companies.
 
(5)      Treatment in Case of Organizational Restructuring
 
During the Transfer Restriction Period, if a matter relating to a merger agreement under which the Corporation will become the dissolving company, a share exchange agreement or a share transfer plan under which the Corporation will become a wholly-owned subsidiary or any other organizational restructuring is approved at a General Meeting of Shareholders of the Corporation (or, if an approval at a General Meeting of Shareholders of the Corporation is not required regarding the above-mentioned organizational restructuring, then the approval by the Representative Corporate Executive Officer of the Corporation), pursuant to the decision of the Representative Corporate Executive Officer, the Transfer Restriction on the Allotted Shares of a number reasonably determined among the Allotted Shares owned by the Qualified Person on the date of the approval shall be removed immediately prior to the business day preceding the effective date of such organizational restructuring.
 

 
4.  Basis of Calculation of the Payment Amount and Specific Details thereof
 
The Issuance of New Shares to each Qualified Person shall be carried out for the fiscal year ending March 31, 2019 (with respect to any Qualified Person who is not in the relevant office as of April 1, 2018, for the period from the date on which he or she takes office to March 31, 2019).  Each Qualified Person will make an in-kind contribution to the Corporation of the monetary compensation receivables paid by the Corporation to such Qualified Person to exchange for Shares of Restricted Stock allotted to the Qualified Person under the Compensation Plan. In light of the terms and conditions of the bonds with stock acquisition rights that are already issued by the Corporation, and in order to eliminate any arbitrariness in the determination of the issue price, the issue price shall be the higher of (i) the average of the Closing Prices for the thirty (30) consecutive trading days commencing on the forty-fifth (45th) trading day immediately before the day immediately after the payment date of the Allotted Shares (from May 25, 2018 to July 5, 2018) (excluding days on which there is no Closing Price, and any fraction of less than one (1) yen arising as a result of such calculation shall be rounded up to the nearest one (1) yen); and (ii) 5,664 yen, which is the Closing Price on June 29, 2018 (the business day immediately before the date on which the Representative Corporate Executive Officer of the Corporation made a decision on the Issuance of New Shares) (see (Note) below).  We believe that the issue price is reasonable on the basis that it will be, in accordance with the above-mentioned method of calculation of the issue price, equal to or higher than the market stock price immediately prior to the date on which the Representative Corporate Executive Officer of the Corporation made the decision relating to the Issuance of New Shares, and we also believe that the issue price does not represent a price that is particularly favorable to the Qualified Persons.
 
(Note)            The issue price will be determined on July 5, 2018, in accordance with the method described in “1. Outline of the Issuance - (Note 1)”.
 
 
End of Document